National CineMedia (NASDAQ:NCMI) Releases Quarterly Earnings Results, Misses Estimates By $0.01 EPS

National CineMedia (NASDAQ:NCMI) posted its quarterly earnings data on Monday. The business services provider reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.01), Yahoo Finance reports. The company had revenue of $90.90 million for the quarter, compared to analyst estimates of $77.25 million. National CineMedia updated its Q1 2024 guidance to EPS.

National CineMedia Price Performance

Shares of NASDAQ:NCMI traded up $0.12 during midday trading on Wednesday, reaching $5.18. 736,460 shares of the company’s stock were exchanged, compared to its average volume of 502,541. The company’s 50 day simple moving average is $4.12 and its two-hundred day simple moving average is $4.17. The firm has a market capitalization of $501.35 million, a PE ratio of 0.16 and a beta of 1.86. National CineMedia has a 12 month low of $1.11 and a 12 month high of $6.49. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.00 and a current ratio of 2.00.

Hedge Funds Weigh In On National CineMedia

Hedge funds and other institutional investors have recently made changes to their positions in the business. Millennium Management LLC lifted its holdings in shares of National CineMedia by 1,126.3% during the 4th quarter. Millennium Management LLC now owns 2,336,927 shares of the business services provider’s stock worth $514,000 after acquiring an additional 2,146,354 shares during the period. RBF Capital LLC increased its position in shares of National CineMedia by 624.4% during the 2nd quarter. RBF Capital LLC now owns 1,092,845 shares of the business services provider’s stock worth $368,000 after purchasing an additional 941,979 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in shares of National CineMedia by 35.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 84,636 shares of the business services provider’s stock worth $215,000 after purchasing an additional 22,363 shares in the last quarter. Occudo Quantitative Strategies LP acquired a new stake in shares of National CineMedia during the 4th quarter worth about $208,000. Finally, Charles Schwab Investment Management Inc. acquired a new stake in shares of National CineMedia during the 3rd quarter worth about $199,000.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NCMI. StockNews.com raised shares of National CineMedia from a “sell” rating to a “hold” rating in a report on Tuesday. Benchmark reissued a “speculative buy” rating and issued a $6.00 price target on shares of National CineMedia in a report on Wednesday. B. Riley raised shares of National CineMedia from a “neutral” rating to a “buy” rating and increased their price target for the company from $4.50 to $6.75 in a report on Tuesday. Finally, Wedbush increased their price target on shares of National CineMedia from $4.50 to $5.50 and gave the company a “neutral” rating in a report on Tuesday.

National CineMedia Company Profile

National CineMedia, Inc, through its subsidiary, National CineMedia, LLC, operates cinema advertising network in North America. It engages in the sale of advertising to national, regional, and local businesses in Noovie, a cinema advertising and entertainment pre-show seen on movie screens; and sells advertising on its Lobby Entertainment Network, a series of strategically-placed screens located in movie theater lobbies, as well as other forms of advertising and promotions in theatre lobbies.